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BMW today announced that it will be making a major investment in its sole U.S. plant in Spartanburg, S.C. Amid a ceremony marking the 2 millionth vehicle the factory’s produced, BMW announced that it will be investing $900 million and creating 300 new jobs as it prepares for the coming of the X4 crossover.

BMW’s new investment and the new jobs will raise Spartanburg’s production capacity to 300,000 vehicles per year. Currently the plant produces BMW’s X5, X6 and X3, the latter of which is a hot seller for BMW. Last month, BMW sold 3532 X3s, which was 316.0 percent better than the same month in 2010. The new investment will also prepare the plant for production of the X4. The X4 will essentially just be a scaled-down X6 Sport Activity Coupe that’s built on the X3’s chassis, rather than the larger X5’s.

Currently, 70 percent of the vehicles produced at the Spartanburg plant are exported overseas; that number will likely increase as BMW readies the X4, which will likely enter production in time for the 2014 model year.

The 2 millionth vehicle produced in the Spartanburg plant was a Vermillion Red Metallic X3 xDrive35i with the M Sport Package and it is set to be displayed at the factory.